Tesla CEO Elon Musk has said that lidar sensors are a “crutch” for autonomous vehicles. But his company has bought so many from Luminar that Tesla is now the lidar-maker’s top customer.Tesla accounted for “more than 10%” of Luminar’s revenue in the first quarter of 2024, or a little more than $2 million, the lidar-maker revealed Tuesday in its first-quarter earnings report.Luminar reported that its revenue fell 5% to $20.9 million from the fourth quarter of 2023, which it mostly attributed to “lower sensor ...

It begins with Volvo Cars and the launch of their new flagship vehicle, the EX90, which marks the first of over 25 commercial programs expected to follow. As a result, Luminar is planning to ship five times more LiDARs in the second half of this year than in the prior 10 years combined. @ LUMINAL Q1 2024 Quarterly Business Update Please see Legal Notices at the end of this report for explanation of Forward-Looking Statements and important cautions. A Message from Founder & CEO Austin Russell The last decade ...

The most recent trading session ended with Luminar Technologies, Inc. (LAZR) standing at $1.30, reflecting a -0.76% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.87%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.The the stock of company has fallen by 23.39% in the past month, lagging the Auto-Tires-Trucks sector's loss of 9.36% and the S&P 500's loss of 3.97%.The investment community will be payi ...

gremlin Investment action I recommended a buy rating for Luminar Technologies (NASDAQ:LAZR) when I wrote about it the last time, as execution was on point and the business was working well towards its FY30 targets, notably with the cash position potentially improving. Based on my current outlook and analysis, I recommend a buy rating. I believe the near-term share price weakness is due to investors being overly focused on the headline EV production weakness and not giving credit to LAZR execution so far ...

If you’re chasing outsized gains by searching for stocks to turn $1,000 into $1 million, it may be a good time to look at stocks trading at bargain-basement levels. These beaten-down companies could deliver significant returns once they finally recover. I’ve been watching many businesses where the fundamentals are improving, yet Wall Street has failed to reward them. However, analysts see major growth potential in these stocks, and with interest rate cuts potentially on the way, we could see an impressive p ...

Luminar Technologies, Inc. (LAZR) has been on a downward spiral lately with significant selling pressure. After declining 24.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting w ...

The price trend for Luminar Technologies, Inc. (LAZR) has been bearish lately and the stock has lost 8.8% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only fa ...

Financial Data and Key Metrics Changes - The company reported a significant increase in its order book, growing from less than $100 million to $4 billion, indicating a strong demand for its technology [9][10] - The company is transitioning from a pre-production R&D phase to a growth stage, with expectations of revenue generation from its multibillion-dollar order book in 2024 [16][17] Business Line Data and Key Metrics Changes - The company ended 2023 with approximately 25 awarded vehicle lines or commercial programs, reflecting a strategic shift in how it calculates its order book [27] - The total gross wins during 2023 amounted to about $800 million, slightly below the billion-dollar forecast due to some decisions being deferred to 2024 [29] Market Data and Key Metrics Changes - Around 80% of the top 20 automakers are planning to integrate LiDAR technology into their production vehicles by 2030, indicating a growing market for the company's products [33] - The company is witnessing a faster adoption curve for LiDAR technology compared to other automotive technologies, suggesting a strong market potential [34] Company Strategy and Development Direction - The company aims to enhance driver capabilities rather than replace drivers entirely, focusing on production vehicles as a key strategy [5][6] - The upcoming launch of the Volvo EX90 is seen as a critical milestone, with plans for additional mass-produced vehicle launches over the next 36 months [6][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a disconnect between the company's performance and market valuation, expressing confidence in delivering long-term value to shareholders [9][10] - The company is focused on operational efficiencies and cost reductions as it approaches the start of production for the Volvo EX90 [39][142] Other Important Information - The company has invested over $1 billion in developing its technology foundation and product capabilities, with expectations of realizing significant economic growth from these investments [17][63] - The competitive landscape is evolving, with some startups exiting the LiDAR space, which may benefit the company as it prepares for increased demand [125][126] Q&A Session Summary Question: Plans to bridge the information gap between company performance and market evaluation - Management acknowledged the frustration regarding market dislocations and emphasized the need to demonstrate long-term value to shareholders [9] Question: Impact of Mobileye's decision to stop working with Intel on LiDAR - Management noted that this validates the challenges in the industry and emphasizes the complexity of transitioning from concepts to industrialized products [11] Question: Changes in order book calculation and its impact - The company provided a more conservative estimate for its order book, resulting in a $400 million decrease due to using third-party volume estimates [28][29] Question: Expectations for liquidity and operational expenses - Management aims to achieve $150 million in liquidity by focusing on cost reductions and operational efficiencies as production ramps up [39][142] Question: Competitive landscape and win rates in RFQs - Management observed a rationalization in the competitive landscape, with fewer companies being seriously considered by automakers for LiDAR deployment [125][126]

Luminar Technologies, Inc. (LAZR) came out with a quarterly loss of $0.20 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this company would post a loss of $0.25 per share when it actually produced a loss of $0.21, delivering a surprise of 16%.Over the last four quarters, the company has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38791 LUMINAR TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 83-1804317 (State or other jurisdict ...